Singapore legislation
Regulation 5
Regulation 5
Auditing of revised financial statements, etc.
Subregulation 1
Section 201(8) and (9) of the Act applies in respect of the revised financial statements, or revised consolidated financial statements or balance‑sheet, of a company with the following modifications:
the reference in section 201(8) and (9) of the Act to financial statements, in relation to a company, is a reference to —
in the case where the company is not a parent company, the revised financial statements of the company required to be sent under regulation 7(1)(a); or
in the case where the company is a parent company, the revised consolidated financial statements or balance‑sheet of the company required to be sent under regulation 7(1)(a);
the reference in section 201(8) of the Act to the financial statements being laid before the company at its annual general meeting is a reference to the revised financial statements, or revised consolidated financial statements or balance‑sheet, being sent under regulation 7(1)(a);
the reference in section 201(8) of the Act to the auditor’s report that is required by section 207 of the Act is a reference to the auditor’s report mentioned in regulation 10(1);
the reference in section 201(9)(b) of the Act to the auditor’s report that is furnished to the directors under section 207(1A) of the Act is a reference to the auditor’s report furnished to the directors under regulation 10(4);
the requirement in section 201(9)(a) of the Act for the financial statements to be audited not less than 14 days before the annual general meeting of the company, unless all the persons entitled to receive notice of general meetings of the company agree that the financial statements may be audited less than 14 days before the annual general meeting of the company, is to be read as a requirement for the revised financial statements, or revised consolidated financial statements or balance‑sheet, to be audited before being sent under regulation 7(1)(a).
Subregulation 2
Despite paragraph (1), a company is exempt from audit requirements in respect of the revised financial statements, or revised consolidated financial statements or balance‑sheet, if, in respect of the financial year in respect of which the revised financial statements, or revised consolidated financial statements or balance‑sheet are made, the company satisfies the requirements for exemption from audit requirements under section 205B or 205C of the Act.